K+S ups potash prices sharply, shortens contracts

FRANKFURT, June 20 (Reuters) - K+S (SDFG.DE) has raised its potash prices sharply starting next month and has also shortened its contract period, the world's fourth-largest potash supplier said, as farmers rush to secure the key ingredient for plants.

A company spokesman told Reuters on Friday average standard potash prices will increase to around 540 euros ($838.6) per tonne from next month, up from 280 euros per tonne in the first half.

He also said new contracts will now run for three months, compared with six months previously.

K+S shares were up 0.8 percent at 379.04 euros at 0900 GMT, compared with 0.2 percent gain in the German mid-cap index .MDAXI. (Reporting by Patricia Gugau, writing by Mantik Kusjanto)